Autoneum. Mastering sound and heat.

Half-Year Results 2019

Martin Hirzel, CEO, and Dr Martin Zwyssig, CFO

2

Agenda

1. Introduction and Highlights Half-Year 2019

Martin Hirzel, CEO

2. Financial Results Half-Year 2019

Dr Martin Zwyssig, CFO

3. Outlook Full Year 2019

Martin Hirzel, CEO

4

Highlights

Half-Year 2019New Heads at BG Europe

and BG North America

Launch of battery undercovers

for electric vehicles

EBIT margin of BG SAMEA

at new record high

Significant decline of global

light vehicle production

Organic revenue increase

of 1.9% Earnings before interest and taxes

(EBIT)

Half-Year Results 2019 . July 25, 2019

All Business Groups

outperformed market

Turnaround in North America

on track

5

Update on action plan 2019

Turnaround in North America on track

Corporate

Drastic expense

savings

Hiring freeze

Postponement of

projects

Asia

• Expansion suspended

• Significant cost savings through overhead reduction

• Initial price increases implemented

Europe

• Flexibilization measures implemented (e.g. reduction of temporary workforce)

• Savings in all cost categories in execution

• Adjustment in overhead expenses

North America

• Turnaround program with

hundreds of cost-saving

measures running at high speed

• Status quo at US plants:

- Steep ramp-ups of

programs mastered

- Delivery performance

restored

- No more costly import of

parts from European sites

• Further market decline in USA

and Canada

• New Business Group Head

since July 1, 2019

6

Agenda

1. Introduction and Highlights Half-Year 2019

Martin Hirzel, CEO

2. Financial Results Half-Year 2019

Dr Martin Zwyssig, CFO

3. Outlook Full Year 2019

Martin Hirzel, CEO

7

Key figures

Overview

Half-Year Results 2019 . July 25, 2019

CHF million HY 2019HY 2019

(excl. IFRS 16)HY 2018

Revenue 1156.1 1156.1 1159.4

Organic revenue growth in % 1.9% 1.9% 2.2%

EBITDA 79.0 59.1 127.2

in % of revenue 6.8% 5.1% 11.0%

EBIT 16.4 12.8 86.4

in % of revenue 1.4% 1.1% 7.5%

Net result −6.0 −4.3 60.1

Investments in tangible assets −64.0 −64.0 −72.7

Free cash flow −54.5 −68.1 −24.1

Basic earnings per share (EPS) in CHF −3.33 −2.94 10.49

Revenue Currency BG Europe BG North BG Asia BG SAMEA Corporate and Revenue

HY 2018 translation/ America eliminations HY 2019

hyperinflation

effect

1 156.1

Organic revenue growth +1.9%

−25.1

−18.3

1.1

19.3

25.4 −5.8

1 159.4

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Revenue development

Organic revenue growth in a declining market

CHF million

Half-Year Results 2019 . July 25, 2019

EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT

HY 2018 America eliminations HY 2019

−5.3

86.4

16.4

1.14.5

−18.9

−51.5

Margin7.5%

Margin1.4%

Margin5.3%

Margin−6.6%

Margin4.8%

Margin6.6%

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Operating result (EBIT) development

Impacted by inefficiencies in US and market decrease

CHF million

Half-Year Results 2019 . July 25, 2019

10

Income statement

New standard for lease accounting (IFRS 16)

Half-Year Results 2019 . July 25, 2019

CHF millionHY 2019

(incl. IFRS 16)IFRS 16 effects

HY 2019

(excl. IFRS 16)

Revenue 1156.1 1156.1

Material expenses −575.6 −575.6

Employee expenses −330.1 −330.1

Other expenses −185.1 −19.9 −205.0

Other income 13.7 13.7

EBITDA 79.0 −19.9 59.1

Depreciation, amortization and

impairment−62.6 16.3 −46.3

EBIT 16.4 −3.6 12.8

Financial result −11.3 6.4 −5.0

Profit before taxes 5.1 2.7 7.8

Income taxes −11.0 −1.0 −12.1

Net result −6.0 1.7 −4.3

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Net result

Over-proportional income tax burden

CHF million

Half-Year Results 2019 . July 25, 2019

EBIT

HY 2019

Financial result Profit before

taxes

Income

taxes

Net result

HY 2019

16.4

−11.3

5.1

−11.0

−6.0

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Balance sheet

Solid equity ratio

• Investments in tangible

assets reduced by

CHF 8.7 million

compared to HY 2018

• Seasonally higher net

working capital at

HY 2018 level

• Higher net debt mainly

caused by negative free

cash flow

• Equity ratio (excluding

IFRS 16 effects) lowered

to 35.7% mainly due to

dividend payments and

the negative net result

Half-Year Results 2019 . July 25, 2019

CHF million 30.06.2019 31.12.2018

Total assets 1953.2 1601.3

Non-current assets (excl. leased assets) 908.7 878.1

Leased assets 321.8 19.4

Net working capital 138.6 99.6

Cash and cash equivalents 56.8 93.1

Borrowings (excl. lease liabilities) 417.7 355.9

Lease liabilities 327.5 21.0

Net debt 688.4 283.7

Net debt (excl. lease liabilities) 360.9 262.7

Shareholders’ equity 587.6 627.7

in % of total assets 30.1% 39.2%

in % of total assets (excl. IFRS 16 effects) 35.7% 39.2%

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Free cash flow (FCF) generation

Reduced earnings and higher NWC impact FCF

CHF million

Half-Year Results 2019 . July 25, 2019

10.1

−40.1

−14.279.0−10.9

Cash flows

from

operating

activities

Cash flows

used in

investing

activities

FCF

HY 2019

−64.6 −54.5

Income

taxes paid

−3.7

EBITDA

HY 2018

EBITDA

HY 2019

Change

NWC

Net

interests

paid

Other

operating

cash flows

127.2

−48.2

FCF Repayment

of lease

liabilities

Purchase

of treasury

shares

Currency

translation

effect

Net debt

(excl.

lease

liabilities)

30.06.2019

21.0

Net debt

31.12.2018

Finance

lease

liabilities

31.12.2018

Net debt

(excl.

lease

liabilities)

31.12.2018

−28.7

−54.5

283.7262.7

Dividends to

AUTN/minority

shareholders

−2.8

−13.9 1.7

360.9

14

Net debt

Net debt increased accordingly

Half-Year Results 2019 . July 25, 2019

CHF million

15

Agenda

1. Introduction and Highlights Half-Year 2019

Martin Hirzel, CEO

2. Financial Results Half-Year 2019

Dr Martin Zwyssig, CFO

3. Outlook Full Year 2019

Martin Hirzel, CEO

16

*According to IHS.

Revenue

Further slight organic growth

of revenue in HY2

Market

Decline of global

automobile production in 2019*

Profitability

Improvement of operating result

in 2nd semester

Guidance

2019

Half-Year Results 2019 . July 25, 2019

Autoneum. Mastering sound and heat.

18

Contacts and event calendar

Investors and Financial Analysts Media Contact address

Dr Martin Zwyssig Dr Anahid Rickmann Autoneum Holding Ltd

CFO Head Corporate Communications &

Responsibility

Schlosstalstrasse 43 / P.O. Box

CH - 8406 Winterthur

T +41 52 244 82 82 T +41 52 244 83 88

investor@autoneum.com media.inquiry@autoneum.com www.autoneum.com

Important dates 2020

Publication of revenue 2019 January 23, 2020

Media and Financial Analysts Conference Financial Year 2019 March 4, 2020

Annual General Meeting 2020 March 25, 2020

Autoneum listed on SIX Swiss Exchange

Ticker Symbol AUTN

Valor Number 12748036

ISIN CH0127480363

Half-Year Results 2019 . July 25, 2019

19

Autoneum is making great efforts to include accurate and up-to-date information in this document,

however we make no representations or warranties, expressed or implied, as to the accuracy or

completeness of the information provided in this document and we disclaim any liability whatsoever for

the use of it.

The information provided in this document is not intended nor may be construed as an offer or

solicitation for the purchase or disposal, trading or any transaction in any Autoneum securities. Investors

must not rely on this information for investment decisions.

All statements in this report which do not reflect historical facts are statements related to the future

which offer no guarantee with regard to future performance; they are subject to risks and uncertainties

including, but not limited to, future global economic conditions, exchange rates, legal provisions, market

conditions, activities by competitors and other factors outside the Companyʼs control. The vehicle

production figures for 2019 are based on the latest estimates of IHS Global Insight.

Disclaimer

© 2019 Autoneum Holding Ltd, all rights reservedHalf-Year Results 2019 . July 25, 2019